Business Setup And Liquidation
Business Setup & Liquidation Services in UAE
Sigma Business Setup & Liquidation Services in UAE for a variety of business establishments such as LLCs, offshore establishments, and Free Zone companies. In Dubai and the UAE, company liquidation is the process by which a company ceases operations and activities when it faces a severe financial crisis and is unable to manage its existing debts.
Our team specializes in offering elite Business Setup and Liquidation Services in Abu Dhabi that assist entrepreneurs with new operations start-ups and existing operations finish-ups.
The procedure necessitates extensive documentation and negotiations with the parties involved as well as other government agencies. De-registration is a critical component of the Company liquidation process. Other names for company liquidation include cancellation of the company, dissolution of the company, and so on. Company liquidation in Dubai or the UAE can be a time-consuming and tedious task if not handled professionally and diligently.
We undertake the liquidation process of your business, providing the best company liquidation services in the UAE. Prior to the company liquidation processes such as trade license cancellation and business winding up, you must complete certain important tasks such as closing bank accounts, settling utility bills, obtaining certificates from relevant government agencies, preparing final audit reports, canceling visas, and so on.
Business Setup & Advisory Services in UAE
You can entrust Sigma Business Setup Services LLC with company liquidation in Dubai to simplify the process and avoid additional costs. We help entrepreneurs liquidate mainland and freezone companies in the UAE.
Setting up and managing a business in the UAE requires expert guidance to navigate legal, financial, and operational challenges. Our Business Advisory Services in UAE provide strategic insights to help businesses thrive in a competitive market.
As trusted Business Setup Consultants in Dubai, we assist entrepreneurs with company registration, licensing, and compliance, ensuring a smooth setup process. Whether you’re looking for the Best Company Formation in Dubai or need professional assistance with Business Liquidation Services in UAE, our experts handle every aspect efficiently, ensuring legal compliance and hassle-free execution. Partner with us for end-to-end business solutions tailored to your needs.
Contact us for your company liquidation in the UAE!
So, why is liquidation necessary?
In the UAE, company liquidation is required primarily for two reasons:
- The primary goal of the business setup has been met, and the commodity is no longer required.
- The organization is considered insolvent.
Understand Different Types of Liquidation
Compulsory liquidations are necessary when there are outstanding debts that have not been paid. In such cases, the creditors ask the authorities to liquidate the organization in order to collect the debt. The government decides to sell the company’s assets as well. These are done to settle any outstanding debts.
Voluntary liquidations occur when the board members of an insolvent firm decide to discontinue operations and plan to liquidate the assets.
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FAQ
A Creditors Voluntary Liquidation (CVL) is a procedure in which the directors of an insolvent company wind up the company for the benefit of its creditors.
There are two types of voluntary company liquidation. The first is a Members Voluntary Liquidation (MVL), which occurs when the company is solvent but the directors have decided to close the business. The second type of liquidation is a Creditors Voluntary Liquidation, which occurs when a company becomes insolvent and the directors decide to liquidate the company in order to return any remaining value to the creditors.
Simply put, the company ceases operations, the assets are liquidated, and the proceeds are distributed to creditors in accordance with their position in the distribution order. Please keep in mind that this is a very simplified version, and there are many steps that must be followed in the correct order.
This is highly dependent on the specific circumstances in which the company finds itself. A large and complex company may take years to complete, whereas a small, simple company that chooses a Members’ Voluntary Liquidation may take a few months.
